Victor Malaba has a net income of $1,240 per month. If he spends $150 on food, $244 on a car payment, $300 on rent, and $50 on savings, what percent of his net income can he spend on other things?
1240 - (150 + 244 + 300 + 50) = 496
496 / 1240 = 0.4 = 40%
5000
To determine the percent of Victor Malaba's net income that he can spend on other things, we need to subtract his expenses (food, car payment, rent, and savings) from his net income and calculate the percentage.
Total expenses = Food + Car payment + Rent + Savings
Total expenses = $150 + $244 + $300 + $50
Total expenses = $744
Net income available for other things = Net income - Total expenses
Net income available for other things = $1,240 - $744
Net income available for other things = $496
Percentage of net income available for other things = (Net income available for other things / Net income) * 100
Percentage of net income available for other things = ($496 / $1,240) * 100
Calculating this, we get:
Percentage of net income available for other things = (0.4) * 100
Percentage of net income available for other things = 40%
Therefore, Victor Malaba can spend 40% of his net income on other things.
To find out what percent of Victor Malaba's net income he can spend on other things, we first need to calculate his total expenses.
Total expenses = Food expense + Car payment + Rent + Savings
= $150 + $244 + $300 + $50
= $744
Next, we subtract the total expenses from his net income:
Remaining income = Net income - Total expenses
= $1,240 - $744
= $496
Now we have the remaining income that Victor can spend on other things. To calculate the percentage, we divide the remaining income by the net income and multiply by 100:
Percentage = (Remaining income / Net income) x 100
= ($496 / $1,240) x 100
= 0.4 x 100
= 40
Therefore, Victor can spend 40% of his net income on other things.